Global Spillovers From China’s Slower Growth ‘Much Larger’ Than Anticipated
SputnikNews.com
04.01.2016
International Monetary Fund (IMF) Economic Counsellor and Director of Research Maury Obstfeld said that global financial conditions are tightening, and are particularly impacting emerging and developing markets.
WASHINGTON (Sputnik) — The impact of China’s slowing economy on the global market has exceeded the expectations of economists, International Monetary Fund (IMF) Economic Counsellor and Director of Research Maury Obstfeld stated in an IMF Survey interview on Monday.
“The global spillovers from China’s reduced rate of growth, through its diminished imports and lower demand for commodities, have been much larger than we would have anticipated,” Obstfeld said.
Earlier on Monday, US stock prices tumbled, following a plunge in Chinese equities that spread to Europe amid fears that a slowdown in China’s manufacturing will drag down the global economy.
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